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Exploring Business

Business

Quiz 3 :

Selecting a Form of Business Ownership

Quiz 3 :

Selecting a Form of Business Ownership

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A partnership is a business that is jointly owned by two or more people.
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True False
Answer:

Answer:

True

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Corporations are limited to large,well-known companies.
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True False
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Answer:

False

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Ben Cohen and Jerry Greenfield started Ben & Jerry's as a corporation.
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True False
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Answer:

False

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A limited partnership is restricted to joint ownership by two people.
True False
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Jane,Karla,and Brenda have set up an accounting firm.An essential part of their partnership agreement is the division of the business income.
True False
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A _____ is a business owned and operated jointly by two or more people.
Multiple Choice
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Which of the following is not true for a sole proprietor?
Multiple Choice
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About what percent of U.S.businesses are partnerships?
Multiple Choice
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In a corporation,all of the owners help run the business.
True False
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Which statement is true about partnerships in the United States?
Multiple Choice
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Many people are reluctant to enter into partnerships because of _____.
Multiple Choice
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Teeth for Life would be better suited for a _____ than a sole proprietorship.
Multiple Choice
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Sole proprietorships account for about 72% of all U.S.businesses.
True False
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A sole proprietorship is a legal form of business ownership.
True False
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Studies show that partnerships are more successful than sole proprietorships.
True False
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If someone does drown this year,who will be held liable?
Multiple Choice
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With a sole proprietorship,you -- the owner -- are,in effect,the business.
True False
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The major problem with general partnerships is:
Multiple Choice
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Which of the following statements is not true about sole proprietors?
Multiple Choice
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The board of directors of a corporation sets the company's policies,goals and decisions,and approves the distribution of dividends.
True False
Answer:
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